Swach Bharat cess related question?
VerifiedAnswer: 0.5%
Explanation:
The Swachh Bharat Cess was a special tax introduced by the Government of India in November 2015 as part of the ambitious Swachh Bharat Mission. This cess was implemented at a rate of 0.5% on all taxable services covered under the Service Tax regime.
The primary objective of this cess was to generate additional revenue for funding sanitation and cleanliness initiatives across the country. The funds collected through this cess were specifically earmarked for improving sanitation infrastructure, building toilets, waste management systems, and other cleanliness-related projects under the Swachh Bharat Mission.
This cess was applicable to all services that were subject to service tax, which meant that consumers had to pay an additional 0.5% on various services like telecommunications, banking, insurance, restaurants, hotels, and many other service sectors. The cess was collected along with the regular service tax and was deposited into a dedicated fund for sanitation projects.
It's important to note that with the introduction of the Goods and Services Tax (GST) regime in July 2017, the Swachh Bharat Cess was subsumed into the GST structure. However, during its operational period from 2015 to 2017, it successfully contributed significant funds towards achieving the goals of a cleaner and more hygienic India.
